Semi-annual report 80% pre-hi auto parts company is more optimistic about the "second half"

The semi-annual report will soon reach its peak. As a booming sector, as of now, 72 listed companies in the auto parts industry have issued pre-announcement results for the first half of the year, including 57 companies reporting good news, accounting for nearly 80%. The reporter interviewed a number of leading auto parts companies learned that performance in the second half of this year is expected to continue the growth momentum in the first half. On the one hand, it has benefited from the continued heavy volume of independent brand vehicles and new energy vehicle markets; on the other hand, it also has the support of industrial integration and expansion. According to statistics, since the beginning of this year, through means of mergers and acquisitions, capital increase, etc., there have been more than 30 cases of listed auto parts companies extending the industrial chain.

Self-owned brand pulls the parts market

The volume of self-owned brand cars has driven the performance of many auto parts companies. Zhongtai Automobile's first-half performance forecast disclosed that the company's net profit will increase by 436% from the same period last year to 516%. Guangdong Hongtu, Junsheng Electronics and Wanliyang are expected to increase their net profit in the first half of the year by more than 100%.

This year, the sales of self-owned brand cars are particularly dazzling. According to the latest sales figures, Geely Automobile sold 621,700 units in the first half of the year from January to July, an increase of 89% year-on-year, and has completed 57% of its annual sales target of 1.1 million units. According to data from SAIC, from January to July, SAIC Motor's passenger vehicle subsidiary (ie, its own brand platform) had cumulative sales of 270,700 units, up 108.70% year-on-year. In January-July, GAC Group sold 298,800 self-owned brands, an increase of 52.43% year-on-year.

Based on the volume of self-owned brand vehicles, the performance of a number of related auto parts companies has also entered the "open and close" model. Zhongtai Motor's first-half performance forecast disclosed that the company's net profit will increase by 436% from the same period last year to 516%. In addition, Guangdong Hongtu, Junsheng Electronics and Wanliyang are expected to increase their net profit in the first half of the year by more than 100%.

Whether it is the traditional parts and components segment or the new energy vehicle business segment, Zotye Motors has added “horsepower”. Zhongtai Automobile insiders told reporters: "The company's auto parts are mainly meters, performance has been good, and achieved growth in the first half of this year." In addition, in the first half of this year, Zotye's new energy vehicle business has become a sales highlight, its pure The cumulative sales of electric passenger cars from January to June totaled 13,004, an increase of 65.38% year-on-year. Moreover, the growth in sales of new energy vehicles has also contributed to the growth of the company’s parts and components segment to a certain extent.

For the second half of the performance, the company also has better expectations. Zotye Automotive said: “The spare parts are our traditional strengths, and we will definitely increase investment in this area because the spare parts we produce will not only be used by Zhongtai Motors, but also sold externally, including some models such as BAIC and Chang’an. We are using our spare parts and we expect the performance will continue to grow in the second half of the year."

Sustainable beneficiaries of new energy vehicles

Industry insiders expect that the development momentum of some new energy vehicle parts and components enterprises will continue in the second half of the year. However, if some traditional parts companies do not have the core technology, they may face the risk of being squeezed out of the market, low-end products will also be eliminated, and the industry's mergers and acquisitions will accelerate.

On August 8, the Ministry of Communications and the Ministry of Housing and Urban-Rural Development jointly issued the "Guiding Opinions on Promoting the Healthy Development of Small and Micro-Bus Leasing", promoting the integration of small and micro bus leases with the Internet, encouraging the development of time-share leasing, establishing sound supporting policies and measures, and encouraging Public parking lots with densely populated areas, such as city commercial centers, government affairs centers, large residential areas, and transportation hubs, facilitate the parking of time-share leased vehicles.

It is reported that at present there are more than 40 small and micro-sized passenger vehicles that have been leased by time, the total number of vehicles exceeds 40,000, and more than 95% are new energy vehicles. Industry insiders said: "Whether for policy reasons or their own cost considerations, new energy vehicles have become the best choice for shared car companies. This model will also help accelerate the adoption of new energy vehicles."

With the continuous expansion of the new energy vehicle market, the auto parts industry will take the lead. Dekor Electronics is committed to R&D and manufacturing of smart driving control systems and new energy vehicle power management systems. Company insiders told reporters that based on the good development trend of new energy vehicles, the company's performance increased significantly. The company has good cooperation with domestic and foreign new energy vehicle giants. For example, the subsidiary KSS provides Tesla Model 3 with the latest safety products and electronic technologies, including driver airbags, steering wheels and battery charging systems. part. In China, the company also has good cooperation with Geely.

This person expects that the development momentum of some new energy vehicle parts and components enterprises will continue in the second half of the year based on the support of national policies. However, if some traditional parts companies do not have the core technology, they may face the risk of being squeezed out of the market, low-end products will also be eliminated, and industry mergers and acquisitions will accelerate.

The reporter noticed that the "Mid-term and long-term development plan for the automotive industry" released this year is clear and it is necessary to lay a solid foundation for auto parts. By 2020, a number of auto parts enterprise groups with a sales volume of over 100 billion yuan will be formed, and they will have strong international competitive advantages in some key core technology areas.

This year, the integration in the auto parts industry has started. For example, in the industrial tire industry, Fengshen shares will purchase PTG (Pirelli industrial tires) and Guilin Beili for nearly RMB 6 billion, which will translate into the largest industrial tire company in the world and the fourth in the world.

For another example, Sanhua Zhirong has issued a private placement of a wholly-owned subsidiary of the controlling shareholder, Sanhua Green Energy, for 2.15 billion yuan to purchase 100% of its holdings in Sanhua Auto Parts. At the same time, it plans to raise matching funds for the “annual production of 11.5 million yuan. Sets of new energy auto parts construction projects "etc. After injecting high-quality auto parts assets under the control of the controlling shareholder, the company's product line has been further improved, and it also provides continuous impetus for growth in performance.

In the same way as the layout of new energy vehicle parts and components, last month, CITIC Heavy Industries announced that the company plans to purchase 592 million yuan for a 52% stake in Tianjin Songzheng. After the completion of this transaction, Tianjin Songzheng will expand the production, development and sales of vehicle control systems and auto parts for the listed company system, and realize the rapid deployment of CITIC Heavy Industries in the field of new energy vehicle power equipment.